Guernsey Finance, a joint industry and government initiative established to promote the island’s financial services sector internationally, is set to explore the investment sector’s recovery from the COVID-19 pandemic as part of its virtual conference this month.
Guernsey hosts an annual Funds Forum event in London each May, but as a consequence of COVID-19, the physical event is being replaced by a virtual event on the original date of 14 May..
The event will see an online discussion on the current state of the fund industry between Jon Moulton, turnaround investor and chair of the international stock exchange; and independent director, Andreas Tautscher.
Guernsey-based Moulton has described the COVID-19 environment as the biggest disruption he has seen in his 40-year business career.
Guernsey, as one of the leading fund centres for private equity in Europe, will continue to serve most areas of the investment sector over the next few years as it recovers from the impact of the pandemic.
The local industry says it has already identified opportunities for new funds with capital already committed and expects established fund managers should continue to perform, as the investment market moves from a buyers’ to a sellers’ market.
Dominic Wheatley, chief executive of Guernsey Finance, said that Guernsey’s long-established funds sector, with a full range of support services, would continue to support managers through difficult times.
“The environment for funds has clearly changed. As a jurisdiction of expertise and substance, we’ve still got plenty to offer for all sectors of the market. The issues facing managers and portfolio companies today are huge, but we’re also seeing managers already raising new funds,” Wheatley added.
